(Kaieteur News) – ExxonMobil has recovered all US$55B the company spent to develop the seven approved projects, paving the way for Guyana to now enjoy its full 50% of profits from the ongoing operations.

This is however likely to change if the Government of Guyana (GoG) approves more projects, as the operator will then be allowed to take 75% of production to cover expenses. This means that Guyana’s profits can again slide to 12.5% unless the administration enforces a different financing approach.

Opposition Member of Parliament (MP) Saiku Andrews recently highlighted the importance of the country receiving its rightful share of profits under the 2016 Production Sharing Agreement (PSA), arguing that no prudent businessman would allow its revenue to be continuously delayed.